A garage in Newport has been sold for more than £100,000, having achieved more than seven times its guide price.
The semi-detached property at the end of Mendalgief Road in the Pill area of city was sold at auction by Paul Fosh Auctions.
Listed with a guide price pf £13,500, bidding over the two day online sale attracted 245 bids. It eventually sold for £100,600. The identity of the acquirer has not been disclosed.
Angie Davey, of Newport-based Paul Fosh Auctions said: “What a phenomenal result. The sizeable garage, towards the end of a popular residential road, certainly grabbed the interest of some determined bidders.
“Bids flooded in from the start and remained strong until the property was eventually sold, after 245 bids from 11 bidders, for £100,600, which is more than seven times the guide price of £13,500-plus.
“The figure realised for the property is astounding. We and the former owner are delighted with the result which further underlines the fact that property prices in the city of Newport are only going one way.”
The property is served by two car parking spaces to the front and a side pathway leading to a small rear courtyard and overgrown garden area.
Ms Davey said: “Subject to necessary planning consents and change of use the garage could suit a tradesperson. The space, which has been cleared by the previous owner, is fitted with power and light facility however this was damaged and will need to be re-connected.”
